A late comment - Well, August was quiet in the markets and as Kermal Dervis hoped the ECB put the 'big bazooka' in place in early September, with the priviso of conditionality, which itself is becoming more workable with the recent constructive statements from various Eurozone countries and the IMF. At first, there was anxiety that the OMT would not actually be in a position to act, but a week later, it's looking much more likely. So will it be needed, or does it just need to be there ready and able? In either case, it provides the secure environment needed for Euro policy to be amended. Read more

I am not surprised that the writer is optimistic, he is a former politician himself, so he got used to saying only what people want to hear even it has nothing to do with reality.Not only in Europe, but globally politicians have been coming out with exactly similar statements for years now without any true solution or long term effect.To be fair it is not their fault, they simply try to avoid mass panic by admitting that they have no solutions to the problems.And the reason they have no solution is that we do not look for the main cause of the crisis, instead we try superficial cosmetic surgery here and there, mostly trying to keep the financial institutions floating basically gradually sacrificing everything else.Until we understand and accept that we stubbornly push on with the wrong socio-economic system in the wrong conditions, basically refusing to adapt to evolutionary changes around us, we will continue digging ourselves deeper into crisis.It will most probably take a totally new generation of leaders and a globally educated public, understanding reality around us, to start climbing out of this mess and start building a new human system. Read more

Joschka Fischer
laments the fate of the European Union in the wake of the latest round of the Greek drama.

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